Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-05-06
THE LOwELL'S COUP.
;stetv Lease of tho Northern Raiiroad-Ons
More step in the Boston and Maine
scheme

scheme.
A Concord, n. H., despatch of Thursday
sSys the directors of the Northern railroad
have leased the road to the Boston and
Lowell railroad for 90 years, subject to the
vote of the stockholders. The terms of
the lease are per cent for 10 years, and 6
per cent thereafter. The lease is made on
the supposition that legislation needed to
change he present law can be obtained at
the coming session of the Legislature.
The lease of the Boston and Lowell to the
Boston and Maine was signed by the di-
rectors in Boston yesterday, giving the
latter corporation the roads now leased to
the former, including the Passumpsic, the
Northern, the Boston, Concord and Mon
treal and the Concord and Claremont.
The controlling interest in Manchester
and Lawrence, now held by Col. Charles
4. Sinclair, will b. transferred to the Bos-
con and Maine, giving them the entire sys-
tenn OF New Hampshire railroads except
the Concord railroad. If the next Legis-
.ature grants the request to be made in
behalf of the Boston and Maine, unless
5he Concord railroad goes into the control
of the Boston and Maine, either by lease
or cratic agreement Il bitter railroad fight
is predicted before the Legislature.
Rumors are current here to-day that the
Central Vermont has been leased by the
Boston and Maine, but they are pro
nounced without foundation by the direc-
Gprs of the Northern railroad. The off
oials OF the Concord road decline to dis
cuss the situation further than to say that
it ia their purpose to hold thrir own road,
20 get possession of the Boston, Concord
and Montreal, if possible, and to do their
utmost to protect New Hampshire inter
7. 4 als.N Il.
the Concord railroad will meet within
few days to consider matters connected
With the policy outlined above.
The terms of the lease are identical with
those conta aimed in the lease to the Boston
and Lowell, which the Supreme Court of
this State recently decided invalid. The
Boston and Maine guarantees payment of
the terms stipulated. Consent of the
stockholders must be obtained before the
lease can be valid. The new lease will go
into effect July l. that being the day de-
signated by the court for the surrender of
1he Northern road and property by the
Boston and Lowell to the directors of the
former corporation under the decision in
the Dow case
Before the famous Dow decision was
reached parties acting in the interest of
Che Concord railroad had bought "a con-
trolling interest in the Boston, Concord
and Montreal railroad, and it was loudly
proclaimed, with an insinuation that the
courts opinion was known in advance of
its formal PRONUNCIATION, that similar
suit would be instituted to force the sur
render of that road by the Boston and
Lowell to its stockholders. That threat
has materiallzed within the past few days
IN the shape of a demand by the directors
Of the Concord and Montreal upon the
Boston and Lowell for the surrender of
the property, accompanied by notice of
intention to submit the case to the court,
in the event of refusal. The Lowell di-
z'ectors took no action, and bill has been
,iled before tie Supreme Court of New
Hampshire asking to have that lease de-
:lared void.
Still another move of the Concord peo-
pie has been to divorce the Nashua and |
lowell road from the Boston and Lowell |
system. Different proceedings would be
necessary i'll this instance from those out |
lined above in fighting for possession of
The Northern and Concord and Montreal |
roads. The Concord had two possible |
outlets from Nashua, one by way |
Of the Nashua and Lowell as far as Low
ell, and the other from Manchester to |
Lawrence. From Nashua an easy connec-
ton could be made with the Eitchburg,
and from Lawrence an old charter could |
be made available for the construction of
B new line to point near Boston, when
the Fitchburg would again be struck. 1t
was supposed that the contract under
which the Manchester and Lawrence was
being operated by the Concord insured
the control to the latter beyond question.
A purchase of sufficient stock Of the
Nashua and Lowell to obtain control, and
finally way from the Boston and Lowell,
was also considered feasible.
Thus it was proposed to build up trunk
line, reaching from Boston through the
large manufacturing cities Of northern
New England to functions with the Can
atiian Pacific, the Grand Trunk and the
Central Vermont The basis upon which
the whole system was to be founded was
to Concord.
The accomplishment of all these plans
meant disaster to the Boston and Lowell.
That road as a short line extending from
Boston and Lowell would not begin to
satisfy the ambition of its directors A
in the minds of Concord people had long
taken form at the Boston and |
Lowell station. When that immense
structure was built, the business of the |
future was clearly foreseen, and termi |
nals were acquired OF sufficient capacity |
from Boston to Montreal and Quebec. The |
execution of that idea was Immediately
begun.
A few weeks ago the through line as
conceived was practically in operation
save for "a miles IN New Hampshire under
decision, and for a time all of these
schemes looked as though defeated, and it
was said that even more comprehensive
.'aAlrOad movements had been blocked.
The Boston and Maine had entered as a
party in this contest for railroad land pos
siblY POLITICAL supremacy in northern
New England. A lease of the Boston and
Lowell to the Boston and Maine had been
substantially agreed upon, one result of
which would be the substitution of the
latter IN the formers place in the struggle
with the Concord.
The progress made in execution of what
few bcld and shrewd directors of the
eastern and Maine conceived as possible
20 do with the railroad system of Maine,
Kew Hampshire and Vermont, and some
of the Massachusetts roads, has been
rapid and signal. Three parallel roads
striking into Portland have been placed
lnder one management. The same man.
agement also controls the only railroad of
Maine save the Grand Trunk which is
not acompetitor. The splendid result, as
Jar as stockholders are concerned, has
oeen equally satisfactory to the business
nd tr, yUhiIa nf